Short Term Trading Week Starting: 10 Oct, page-518

STTCOMP CRB, TA Long

(ASX: CRB – CARBINE RESOURCES LTD)
SP: 19.5c
MC: $37.58 Million
Cash $8,600,000 (AUD) as at 30^th June 2016
Shares: 192,000,000

After CRB’s share price peaking in early August around the 25-27c mark, the Company was subsequently sold off rather hard, with its share price falling for 7 weeks. Around the end of the 22^nd September week, signs that sellers were running out of steam began to show up in the Weekly Chart, please refer below. The last 3 weeks of trading have been interesting with price almost levelling out around the late teens to 20c mark. On the back of a strong trading day today for CRB, with some $451K traded and the share price closing up 8% at 19.5c, signs are emerging that buyers are coming back. A few more trading days like today, and a push upward into the mid to late 20’s is possible.

Please DYOR as this is not a buy or sell recommendation.
Cheers
GF